ThomasNet News Logo
Sign Up | Log In | ThomasNet Home | Promote Your Business

EPA proposes changes to enhance confidence in RIN trading.

Print | 
Email |  Comment   Share  
February 7, 2013 - To help make Renewable Fuel Standard program more effective, EPA is proposing structured process for buyers of Renewable Identification Numbers to verify validity. Under proposal, RINs would be verified through voluntary quality assurance program that also includes alternative compliance options which leverage existing industry practices and market forces. QAPs would provide means for independent third parties to audit production of renewable fuel and verify that RINs have been validly generated.

EPA Proposes Changes to Enhance Confidence in RIN Trading in the RFS Program


(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)

Environmental Protection Agency (EPA)
Ariel Rios Building
Washington, DC, 20460
USA



Press release date: January 31, 2013

WASHINGTON -To help make the Renewable Fuel Standard (RFS) program more efficient and effective the U.S. Environmental Protection Agency (EPA) is proposing a structured process for buyers of Renewable Identification Numbers (RINs) in order to verify their validity.

Under the proposal, RINs would be verified through a new voluntary quality assurance program that also includes alternative compliance options which leverage existing industry practices and market forces. This proposal will be available for a 30-day public comment period. EPA will consider feedback from a range of stakeholders before the proposal is finalized.

Quality Assurance Plans (QAPs) would provide a recognized means for independent third parties to audit the production of renewable fuel and verify that RINs have been validly generated.

For RINs that have been verified according to an approved QAP, the program would provide protection against liability for civil violations resulting from the transfer or use of invalidly generated RINs under certain conditions. The rule would also specify both the conditions under which invalid RINs must be replaced with valid RINs, and by whom. The proposed rule allows verification of RINs to begin this year.

The RFS program, which was established under the Energy Policy Act of 2005 and later modified through the Energy Independence and Security Act of 2007, requires that specified volumes of renewable fuel be used as transportation fuel, home heating oil, and/or jet fuel each year.

Renewable fuel producers and importers generate RINs based on the volume of compliant renewable fuel that they make available. RINs can then be traded and used by petroleum refiners and importers (“obligated parties”) to show compliance with their volume obligations.

Following a number of high profile RIN fraud cases, EPA expects its rulemaking to improve the overall liquidity in the RIN market and in particular make it easier for smaller renewable fuel producers to sell their RINs. EPA worked closely with stakeholders in developing the proposal.

More information on the proposed rule and the RFS program: http://epa.gov/otaq/fuels/renewablefuels/regulations.htm


Print | 
Email |  Comment   Share  
Contacts: View detailed contact information.


 

Post a comment about this story

Name:
E-mail:
(your e-mail address will not be posted)
Comment title:
Comment:
To submit comment, enter the security code shown below and press 'Post Comment'.
 



 See related product stories
More .....
 Visit Green and Clean Blog
  Latest from the Green and Clean Blog
 See more product news in:
Services
Green & Clean
 More New Product News from this company:
EPA Proposal waives requirements for capturing gasoline vapors.
More ....
| Featured Manufacturing Jobs
 Other News from this company:
EPA Settles with DuPont over Violations of Federal Pesticide Laws that Led to Widespread Tree Deaths and Damage
EPA Registers New Nematicide Alternative to Restricted-Use Soil Fumigants, Including Methyl Bromide
EPA Announces Funding to Create Two New Drinking Water Innovation Centers
EPA Seeks Feedback from the Public on Proposed Label Options for Safer Products
Great Lakes Restoration Initiative Provides Funding to Target Harmful Algal Blooms in Lake Erie
More ....
 Tools for you
Watch Company 
View Company Profile
Company web site
More news from this company
E-mail this story to a friend
Save Story
Search for suppliers of
Trade Associations


Home  |  My ThomasNet News®  |  Industry Market Trends®  |  Submit Release  |  Advertise  |  Contact News  |  About Us
Brought to you by Thomasnet.com        Browse ThomasNet Directory

Copyright © 2014 Thomas Publishing Company. All Rights Reserved.
Terms of Use - Privacy Policy



Error close

Please enter a valid email address